Blockchain reduce the need in intermediary banks – the CEO of Blockstream

Blockchain technology is a step towards building open networking as
it allows processing international transactions without third-party
banking institutions with questionable creditworthiness, according to
the CEO of Blockstream Adam Black.

Speaking on the sidelines of
G20 meeting in Japan, he said that he considered cryptocurrency as “the
electronic cash for the global internet world.”. However, the level of
cryptocurrency adoption is too low to evaluate their influence on
monetary policy of global regulators.

“I don’t see it as large enough to affect monetary policies for major currencies like the euro and Japanese yen,” he said

Commenting tokenization, Adam Black noted that it allows confirming the system integrity in real time.

It is also worth noting that the finance ministers of G20
included crypto and blockchain agenda in the final communique, saying
that the technology requires risk monitoring. They also mentioned that
digital assets might be beneficial to the economy, while money
laundering and terrorism financing are potential byproducts.

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